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Central Bank Of Kenya Seeks Public Input On Potential CBDC

February 10, 2022

A key opportunity where CBK sees potential value is the use of CBDC in facilitating cross-border transactions

he Central Bank of Kenya (CBK) has published a discussion paper on its central bank digital currency (CBDC), seeking public input on the potential benefits and risks 

In a statement, the CBK has highlighted that using a CBDC might improve cross-border payments by making them more efficient and less expensive. 

The regulator says that CDBC solutions can flatten the multi-layered correspondent banking structure and shorten payment chains in a discussion paper exploring the future use of a digital currency: 

A key opportunity where CBK sees potential value is the use of CBDC in facilitating cross-border transactions 

Press release: Issuance of Discussion Paper on Central Bank Digital Currency (CBDC) for Public Comments. 

The watchdog has given Kenyans until May 20 to submit their comments on the paper that examines the dangers and possibilities of CBDC 

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